PPI - ASU - Who pays the bills?

Payment Protection or Accident Sickness Unemployment Insurance all sound great, say they will pay the bills if you are unable to work - though it is usually stipulated 'through no fault of your own' - what a get out clause that can be!

And, according to the FSA estimates as many as 2 out of 3 such policies have been mis-sold

Martin Lewis the moneysavingexpert advocates everyone claims back their premiums, with interest and perhaps even damages - well yes, but surely one should have something else in place first, before these policies are canceled, yes?

The Sick Pay Club covers people for their wages in they are off work through an accident or through illness - and keeps paying those wages right through to retirement or age 65 years

Unemployment cover is not included and perhaps quite rightly so too!

Insurers, being insurers usually have the right to say to policy holders, get a job, stack shelves, do agency work or similar - and after a few months they really do monitor claimants that they properly look for work or they stop paying the cover, and anyway, it was only going to pay out for a year anyway (or thereabouts) so redundancy cover as it is sometimes called isn't worth a lot if one is sacked, is it

However, reliable cover to pay wages is important and the PPI policies again only pay out for a year or so - far better to join a club that looks after its members, surely?

Find out more from info@mycbi.co.uk or telephone 01162 912 478